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Get filing alertsAlpine Income Property Trust expands ATM programs, adding up to $150M common and up to $35M preferred capacity
Filed April 24, 2026 · Period ending April 24, 2026 · ~1 min read
Key Changes
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Company added six sales agents to its at-the-market common stock program, enabling sales of up to $150 million in common shares. Four agents will also facilitate forward sales, allowing Alpine to lock in prices today while delaying share issuance.
Item 1.01 view on EDGAR → -
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Alpine expanded its preferred stock ATM program by adding two sales agents (Cantor Fitzgerald and Huntington Securities) for up to $35 million in 8.00% Series A Cumulative Redeemable Preferred Stock at $25.00 liquidation preference per share.
Item 1.01 view on EDGAR → -
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Forward sale arrangements allow the company to secure future capital at predetermined prices without immediate dilution, providing flexibility to time share issuance based on capital needs and market conditions.
Exhibit 1.5 verify on EDGAR →
Summary
Alpine Income Property Trust significantly expanded its capital-raising capabilities by adding multiple sales agents to both its common and preferred stock at-the-market offering programs.
The up to $150 million common stock program now includes six new agents, with four authorized to execute forward sale transactions—a structure that lets Alpine lock in sale prices today while deferring actual share issuance and cash receipt until a later date. The up to $35 million preferred stock program added two agents for selling 8.00% Series A preferred shares.
For retail investors, this expansion signals management's intent to maintain flexible access to capital markets, likely to fund property acquisitions or refinance debt. The forward sale feature is particularly noteworthy: it reduces immediate dilution risk while providing certainty about future funding. However, the substantial size of these programs—$185 million combined—means existing shareholders should monitor actual usage closely, as aggressive issuance could materially dilute ownership stakes. Watch for quarterly disclosures about how much stock Alpine actually sells under these programs and at what prices, especially relative to net asset value per share. The gap between authorization and execution will reveal whether management is being disciplined or opportunistic with shareholder capital.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Alpine Income Property Trust expanded its at-the-market offering programs, adding new sales agents for up to $35M in preferred stock and up to $150M in common stock.
Added in current filing · verify on EDGAR →
On April 24, 2026, the Company, the Operating Partnership and the Manager entered into (i) separate equity distribution agreements, in substantially the form attached as Exhibit 1.3 to this Current Report on Form 8-K, and incorporated herein by reference (collectively, the “Forward Common Equity Distribution Agreements”), and separate master forward confirmations, in substantially the form attached as Exhibit 1.5 to this Current Report on Form 8-K, and incorporated herein by reference, with each of Cantor, Huntington, Lucid and UBS and (ii) separate equity distribution agreements, in substantially the form attached as Exhibit 1.4 to this Current Report on Form 8-K, and incorporated herein by reference, with each of AGP and Colliers (collectively, the “Non-Forward Common Equity Distribution Agreements” and together with the Forward Common Equity Distribution Agreements, the “Common Equity Distribution Agreements”), to include AGP and Colliers as additional sales agents and Cantor, Huntington, Lucid and UBS as additional sales agents, forward sellers and forward purchasers in the Company's previously announced at the market common stock offering program, pursuant to which the Company may issue and sell from time to time (the “Common Offering”) shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), having an aggregate offering price of up to $150,000,000 (the “Common Shares”).
The company added six new sales agents to its at-the-market common stock offering program, which allows it to sell up to $150 million of common stock. Four of these agents (Cantor, Huntington, Lucid, and UBS) will also act as forward sellers and forward purchasers, while two (AGP and Colliers) will serve only as sales agents. The company also amended existing agreements with nine other sales agents to reflect these additions.
Event · Item 9.01 — Financial Statements and Exhibits
Alpine Income Property Trust filed distribution agreements for preferred and common equity offerings, including forward sale arrangements.
Added in current filing · verify on EDGAR →
Form of Preferred Equity Distribution Agreement.
The company filed a form agreement for at-the-market or continuous offerings of preferred equity securities. This establishes a framework for selling preferred shares to investors over time, potentially providing capital for acquisitions or operations without immediate dilution to common shareholders.
Added in current filing · verify on EDGAR →
Form of Common Equity Distribution Agreement (Forward). 1.4 Form of Common Equity Distribution Agreement (Non-Forward).
The company filed two forms of common equity distribution agreements — one for forward sales and one for non-forward sales. Forward sales allow the company to lock in a sale price today but delay share issuance and cash receipt, potentially reducing near-term dilution while providing future capital certainty.
Added in current filing · verify on EDGAR →
Form of Master Forward Confirmation.
The company filed a master forward confirmation agreement, which governs the terms of forward sale transactions for common stock. This document sets the legal and operational framework for delayed settlement equity offerings, including pricing mechanisms and settlement procedures.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify